Consumer psychology and buying behavior

Consumer psychology and buying behavior

1. Help businesses to innovate...

   • Understanding human drives which underpin consumer behavior
   • understanding the different ways in which consumers value products and services
   • understanding the ordinary everyday lives and activities of consumers
   • understanding how different types of consumers (e.g. men versus women) think, feel and act
   • designing experiments to test product concepts and enable consumers themselves to innovate

2. Value products by..

   • Utility
   • Experience
   • Symbolism

3. 'Black Box'

4. More customers by...

   • Help customers break through "Action Paralysis" by setting minimums
   • Embrace the label power
   • 1.Average spenders 2.Tightwads 3.Spendthrifts
   • Highlight strengths
   • Use urgency
   • And many more...

5. Marketing apps in consumer behavior 1.market segmentation 2.target market selection 3.Positioning 4.Pricing decisions 5.distribution & promotion decisions

6. Buying roles 1.Initiator 2.Influencer 3.decider 4.Buyer 5.User

7. Buying decision process 1.problem recognition 2.info. search 3.Evaluation of alternatives 4.purchase decision 5.post-purchase behavior

8. Factors affecting consumer buying behavior 1.